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Q&A
Council member inquires about MTA funding and congestion pricing impact
3:08:05
ยท
86 sec
Council Member Lincoln Restler questions OMB Director Jacques Jiha about the potential impact of reduced congestion pricing revenue on the city's contributions to MTA funding. Jiha explains that the state has requested a $3 billion contribution from the city to the MTA capital budget, but the full impact of congestion pricing is still uncertain due to ongoing legal disputes.
- The MTA initially estimated $1 billion in revenue from congestion pricing, now reduced to $500 million
- The city's current requested contribution to the MTA capital budget is $3 billion
- The outcome of a lawsuit between the MTA and the federal government may affect future funding discussions
Lincoln Restler
3:08:05
Just firstly, briefly on the MTA and the importance of funding the and some and the gap in the current capital plan.
3:08:11
In 2021, in the enacted state budget, governor Cuomo authorized the MTA to establish congestion pricing in New York City.
3:08:18
Governor Hochul, of course, as we all know, reduced the price of congestion pricing, and now the MTA is estimating that it will generate only $500,000,000 instead of a billion in its first full year of implementation.
3:08:29
Does the administration anticipate that the city is going to have to cover, gonna have to increase its capital contribution to the MTA as a result of the reduced revenue being generated by congestion pricing?
Jacques Jiha
3:08:41
Currently, the state requested that we add $3,000,000,000 to the capital budget for the MTA.
3:08:54
Nobody knows what's gonna happen with congestion pricing and what the ramifications will be for the city.
3:08:59
I'm assuming there will be conversation between the city and state and the MTA at that point in time because we don't know what the outcome of the lawsuit is going to be.
3:09:11
But as far as I know, that's all so far they ask us to contribute, it's $3,000,000,000, okay?
3:09:16
But again, we don't know about the discussion about where we're gonna end when it comes to congestion pricing with respect to the dispute, you know, the lawsuit between MCA and the federal government.
Lincoln Restler
3:09:30
Okay.